Evotec SE (NASDAQ:EVO) Sees Significant Decrease in Short Interest

Evotec SE (NASDAQ:EVO) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 220,100 shares, a drop of 10.7% from the October 15th total of 246,500 shares. Based on an average daily trading volume, of 138,900 shares, the short-interest ratio is currently 1.6 days. Approximately 0.1% of the shares of the stock are short sold.

Institutional Trading of Evotec

Several institutional investors have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Evotec during the second quarter worth approximately $87,000. Cetera Advisors LLC bought a new position in Evotec during the first quarter valued at approximately $188,000. Clear Harbor Asset Management LLC bought a new position in Evotec during the third quarter valued at approximately $104,000. DCF Advisers LLC raised its position in Evotec by 140.5% during the second quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock valued at $552,000 after acquiring an additional 67,156 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in Evotec during the third quarter valued at approximately $512,000. 5.81% of the stock is currently owned by institutional investors and hedge funds.

Evotec Stock Performance

Shares of EVO traded up $0.34 during midday trading on Friday, hitting $5.44. The stock had a trading volume of 1,160,733 shares, compared to its average volume of 309,637. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.99 and a current ratio of 2.09. The business has a 50-day simple moving average of $3.66 and a two-hundred day simple moving average of $4.19. Evotec has a fifty-two week low of $2.85 and a fifty-two week high of $12.00.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Morgan Stanley lowered shares of Evotec from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $15.00 to $6.00 in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut shares of Evotec from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Jefferies Financial Group cut shares of Evotec from a “buy” rating to a “hold” rating and decreased their target price for the stock from $8.70 to $3.80 in a report on Monday, October 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of Evotec in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.93.

Evotec Company Profile

Evotec SE operates as drug discovery and development partner for the pharmaceutical and biotechnology industry worldwide. The company is developing pharmaceutical products in various therapeutic areas, such as autoimmune diseases, cancer, CNS diseases, diabetes, fibrosis, immunology, infectious diseases, kidney diseases, liver diseases, pain and inflammation, rare diseases, respiratory diseases, tuberculosis, and women’s health.